Definition And Expretation Of Strategy And Strategic Strategies

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2.1 Unit Overview .
To master this unit you are expected to discuss about:
1) Definition and interpretation of strategies and strategic objectives.
2) Types and characteristics of different strategies and how they are applied in specific environments.
You will also be able to differentiate between values , focus areas with regards to strategic planning
2.2 Introduction.
In Unit 2 you will study :
• How to differentiate between different types of strategies
• How strategic objectives are conceived and developed .
• You will learn about strategic vision and values .

2.3 Unit Objectives and Intended Learning Outcomes. After you have studied Unit 2 , you are expected to :
• Be able to compare and contrast different types of strategies …show more content…

Other authors have defines strategy from various perspectives. For Henri Mintzberg strategy is "a pattern in a stream of decisions". which is contrasted with that of Max McKeown (2011) for whom "strategy is about shaping the future" and is the human attempt to get to "desirable ends with available means". Vladimir Kvint (2009) provides is more systematic in his approach. He defines strategy as "a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully." Courtesy BDS Glasgow, 2014: Strategic Thinking
Strategy is translated into concrete action ( strategic implementation) through a well designed strategic plan. A strategic plan starts with a clearly defined business mission. For Mintzberg, a mission is defined as follows:
“A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers”.
Elaborating further Richard P. Rumelt ( 2011) describes strategy as a kernel with three components appropriate for addressing a challenge or systematically solve specific problems. The three parts of the kernel …show more content…

(2011). Good Strategy/Bad Strategy. Crown Business. ISBN 978-0-307-88623-1.

2.2. Business Strategy definitions and interpretations
In general terms business strategy is the direction and scope of an enterprise extended over the long term. It evolves within challenging environments namely internal and external expansion. The aim is to achieve growth and competitive advantage through judicious use and optimization of its strategic human and material resources. Johnson and Scholes (2010), in their book, Exploring Corporate Strategy define strategy thus:
"Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations" (Johnson and Scholes, 2010)
Therefore business strategy is about the company’s direction, scope, market positioning, competitive advantage, human and material resources, internal and external environments, and stakeholders who directly or indirectly influence the business development.
Meeting the needs and exigencies of markets and fulfilling stakeholders expectations remain the focus of strategies at different levels within an

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